<<A funny thing happened on the way to economic Armageddon: Iceland’s very desperation made conventional behavior impossible, freeing the nation to break the rules. Where everyone else bailed out the bankers and made the public pay the price, Iceland let the banks go bust and actually expanded its social safety net. >>

That would have been my plan for the United States. Let the bad banks go bust --- they would be punishing THEMSELVES for their bad behavior.

Use Federal spending to pick up the pieces after that.

Instead Obama bailed out the bad actors and now wonders why the same bad actors are still in place.

Instead Obama bailed out the bad actors and now wonders why the same bad actors are still in place.

... not only did the Obama administration provide endless amounts of bailout money, they also saw to it that there were NO prosecutions for crimes committed.

The last time bankers pulled one of these flagrantly criminal enterprises, the 80's S&L crisis, various gov't regulators filed over 10,000 complaints /w Reagan's justice dept. As a result of those referrals, the FBI investigated and the Justice dept prosecuted the miscreants. Over 1,000 bankers received prison time.

Obama's record ... not so much.

To date, there have been ZERO referrals from regulators, ZERO prosecutions and ZERO convictions for the massive criminal activities that accompanied the financial crisis. Instead, you have Turbo Tax Tim leading the parade to let these criminals pay a small fines to protect them from criminal prosecutions. This is the same guy who, as president of the NY Fed, was the primary regulator for these Wall Street banks while the crimes were being committed ...

You might say that all those Wall Street bankers and brokers got something of value for all that campaign cash that Urkel collected from them in the 2008 election cycle...